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P2 Solar has signed a Memorandum of Understanding (MOU) with a Punjab Government Agency to build a 25 MW Solar Power Station in the Indian State of Punjab.

The company will submit the pre-feasibility report to the government agency. Once submitted, the report will be reviewed and the government agency will make a final determination about the feasibility of the proposed Solar Power Station.

If the government agency approves the pre-feasibility report, P2 Solar anticipates that in conjunction with such approval, it will enter into an Implementation Agreement with the government agency and simultaneously a Power Purchase Agreement with the Punjab State Electricity Board pursuant to Clause 8 of the New and Renewable Sources of Energy (NRSE) Policy – 2006 established by the Government of Punjab.

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